Every motor vehicle insurance policy will include a declaration sheet that
summarizes the contents of your policy. This “nuts and bolts” page is found right at the beginning
of the vehicle policy. While it isn’t per se proof of insurance,
the declarations sheet if a handy quick reference guide or overview of
the policy terms.
experienced Poughkeepsie car accident attorneys, we encourage all motor vehicle owners to become familiar with the declarations
sheet because it is the easiest way for insured motorists to understand
the limits of their policy. It also includes other important information.
The name of the insurance carrier will be on the page and the carrier’s
contact information is listed therein. The policy holder’s name
and address will also be listed on the declarations sheet.
The summarized specifics of the policy will touch upon the policy’s
collision coverage, deductibles, bodily injury coverage,
No-Fault coverage limits, personal injury coverage, underinsured motorist coverage and uninsured
motorist coverage, and finally property damage liability coverage.
If you are involved in a
car accident and another person’s property is damaged, property damage liability
coverage may cover the cost of the damage. This way, you may not be personally
liable for the damage. The mandatory minimum amount of coverage that you
must have for this is $10,000.
Bodily injury coverage is also mandatory in New York and the minimum amount
of coverage is $25,000/$50,000. This translates to a maximum amount of
reimbursement to any injured person as being $25,000 and the complete
max amount of money allowed for bodily injury coverage is $50,000, no
matter how many people are injured.
You are probably aware of collision coverage. This covers the cost of repairing
or replacing the vehicle after the collision. Coverage for this is determined
by the cash value of the repairs or replacement, minus the deductible.
Of course, the deductible is the portion of the repair or replacement costs
that the insured driver must pay. Typically, lower deductible policies
equate to higher premiums, whereas high deductibles cost the motorist
less. The trade off is the amount of money that the insured motorist must
pay in the event of an accident.
New York is also a No-Fault jurisdiction and all motor vehicle policies
must include this type of coverage. Regardless of fault, this coverage
will pay for medical expenses, lost wages subject to certain limitations
if such losses were directly caused by an automobile accident.
Lastly, there is underinsured and uninsured motorist coverage. If the other
motorists in the collision did not have insurance or did not have enough coverage, this type of coverage
will protect you. This is mandatory in New York and has the minimum requirement
Learn more about general car insurance issues and an overview of important
issues in the latest article by our law firm
available by clicking here. Read about no-fault insurance and how it applies to your car accident claim by
clicking this link.
Our personal injury attorneys at
Mainetti, Mainetti, and O’Connor, P.C. have over 100 years of combined experience working with victims of personal
injury accidents throughout New York. We understand how to effectively
represent clients who have been injured in serious car accidents, particularly
throughout the Mid-Hudson Valley region in Kingston, Poughkeepsie, and
Newburgh where we have offices. Hear
what our clients are saying about us here and learn about just some of our
successful results here. If you or a loved one has been injured in a personal injury accident,
please do not hesitate to contact us by calling 845-340-HURT (4878) or
toll free at 866-440-4452, or by using the
convenient contact form here.